Bitcoin crypto forecast for the week 20 – 26 June
20.06.2022 | auglovoi
At the end of last week, bitcoin was breaking down $ 20,000, trading at the moment at $17,800 per coin, at the same time Ethereum was falling below $900, although not falling much below this mark. However, in a fairly short time, such a decline was partially recouped, but still a three-fold drop from the historical maximum is unlikely to be restored quickly. The cryptocurrency bitcoin price forecast for the week of June 20-26 is quite favorable.
At the time of the fall, some experts talked about macroeconomic reasons and the general mood of the market, but now the situation is more like an artificially created one for the purchase of a large volume of the first cryptocurrency at a low price. The exact reasons will become known later, when analytics on volumes and transactions on large platforms appear.
Although the fear and greed index is confidently holding below 10, which indicates a fairly strong sell-off, there is no reason to talk about the continuation of the decline when predicting the price of bitcoin. It is possible to say with a sufficient degree of confidence that the local bottom of the current “crypto-winter” has already been reached and will be fixed at $20,000, where the first cryptocurrency will be traded for some time.
For traders, now is not the best time, the trading volumes of small investors are small, and large players are able to move the market strongly, which is quite difficult to predict in the short term. However, the current situation offers excellent opportunities for medium- and long-term investors. It is worth considering investment horizons of two years, during which the state of affairs may last.
At the same time, by the end of the week, bitcoin has every chance to grow even more. The corrective increase in technical indicators indicates the nearest target at about $22,400, there we should expect a rebound down, and the bottom of the next cycle will determine the most effective movement for the next few weeks.
These articles are not instructions for investment, they do not give any guarantees and are provided for informational purposes only.